#6 - Devon Energy (NYSE:DVN)
If the energy sector is beginning to lose its luster, someone forgot to tell Devon Energy (NYSE:DVN). The company is an independent oil exploration and production company and owns some of the strongest assets across the United States.
That being said, energy stocks are notoriously cyclical. However, when many companies will be showing smaller profits, Devon Energy is expected to report rising profits. That’s one reason that analysts tracked by MarketBeat give DVE stock a 38% upside from its current level. The company is also one of the most upgraded stocks in the most recent quarter.
And income-oriented investors will love the company’s dividend. It currently has a dividend yield of over 8%, and pays out over $5 per share annually. Plus, the payout ratio is 55%, leaving room for the company to continue increasing its dividend in the future.
About Devon Energy
Devon Energy Corporation, an independent energy company, engages in the exploration, development, and production of oil, natural gas, and natural gas liquids in the United States. It operates in Delaware, Eagle Ford, Anadarko, Williston, and Powder River Basins. The company was founded in 1971 and is headquartered in Oklahoma City, Oklahoma.
- Current Price
- $39.38
- Consensus Rating
- Moderate Buy
- Ratings Breakdown
- 12 Buy Ratings, 10 Hold Ratings, 0 Sell Ratings.
- Consensus Price Target
- $51.80 (31.5% Upside)
